Protection of Businesses Act, 1978
R 385
Financial Sector Regulation Act, 2017 (Act No. 9 of 2017)Chapter 10 : EnforcementPart 2 : Directives by financial sector regulators145. Removal of person from position |
A financial sector regulator may not issue a directive in terms of this Part that requires the removal of a person from a specified position or function in or in relation to the financial institution unless the person—
| (a) | has contravened a financial sector law; |
| (b) | has been involved in financial crime; |
| (c) | is responsible for, or in any way participated in, or failed to take steps open to him or her aimed at preventing— |
| (i) | a contravention of a financial sector law by the financial institution; or |
| (ii) | the financial institution being involved in financial crime; or |
| (d) | no longer complies with applicable fit and proper person requirements. |
